Sealed Bid Auctions

Sealed bid auctions are used when the seller is generally seeking the maximum control to determine who has interest and what intended use they have for the property in the Louisville area.

  • Bidders do not know what the other bidders are offering.
  • There is nothing to force them to go higher, except for their wish to be the top bidder.
  • Often the seller does not obligate himself, to accept the winning bid, and the bids are broadly distributed from low to high value ranges.
  • Bidders may be bidding against themselves, as they guess what their competition may bid

 

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